08 June 2011 20:13 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil’s plastics production is projected to grow around 6% year on year in 2011 because of higher demand, the country’s plastics industry association Abiplast said on Wednesday.
Plastics production in 2012 could grow by 5% year over year because of a stronger domestic economy, Abiplast said.
Production will likely rise because of growing demand for electric and electronic equipment, the association said.
Despite the higher production, Abiplast projects revenues of Brazilian reais (R) 35bn ($22bn, €15bn) in 2011, down 14.6% year on year from the R41bn reported for the sector in 2010.
In 2010, Brazil processed over 5.9m tonnes of thermoplastic resins and reported a growth of 9% for the sector compared with the previous year.
($1 = R1.57)
($1 = €0.68)
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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